Mutual of America Capital Management LLC Takes $7.83 Million Position in Texas Pacific Land Co. (NYSE:TPL)

Mutual of America Capital Management LLC bought a new stake in Texas Pacific Land Co. (NYSE:TPL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,660 shares of the financial services provider’s stock, valued at approximately $7,827,000.

A number of other institutional investors have also modified their holdings of TPL. Benjamin F. Edwards & Company Inc. grew its position in Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after buying an additional 30 shares during the last quarter. GAMMA Investing LLC grew its position in Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after buying an additional 41 shares during the last quarter. American National Bank purchased a new position in Texas Pacific Land in the 2nd quarter valued at $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Texas Pacific Land in the 2nd quarter valued at $44,000. Finally, IFS Advisors LLC grew its position in Texas Pacific Land by 200.0% in the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after buying an additional 44 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $915.66 on Friday. The firm has a market capitalization of $21.04 billion, a P/E ratio of 48.68 and a beta of 1.60. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $925.15. The company’s fifty day moving average is $820.78 and its two-hundred day moving average is $691.70.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.38). The company had revenue of $172.33 million for the quarter, compared to analysts’ expectations of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same quarter in the previous year, the firm posted $4.35 earnings per share. On average, sell-side analysts forecast that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.51%. Texas Pacific Land’s payout ratio is currently 24.88%.

Wall Street Analysts Forecast Growth

TPL has been the topic of a number of analyst reports. StockNews.com lowered shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. BWS Financial reiterated a “buy” rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research report on Monday, August 12th.

Texas Pacific Land Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.